© Dukascopy Bank SA
- Citi (based on CNBC)
Pair's Outlook
The EUR/JPY cross traded flat yesterday, as the pair was unable to breach the weekly PP on the downside, nor the monthly R2 from above. Although technical indicators retain bullish signals in the daily timeframe, we still expect the Euro to remain within the borders of the weekly PP and monthly R2. However, a risk of the single currency weakening against the Yen persists, thus, we might see a slump to the 138 psychological level.
Traders' Sentiment
Bears keep pressuring the bulls, as only 48% of traders now have a positive outlook towards the Euro, compared to 49% yesterday. At the same time, the portion of buy orders gained ten percentage points. The orders now take up 45% of the market.
© Dukascopy Bank SA